Another busy day for markets as a stack of data is slated for publication today.

The EURUSD made some solid gains overnight as it broke through $1.14. The pair began the day at $1.13424 and remained flat early, slipping to lows of $1.13247 mid-session. It bounced off those lows, rallying to a high of $1.14080 late in the day. It is slightly higher at the moment and is now trading at $1.14107. The GBPUSD remained largely flat overnight, stemming the losses sustained the day before. It opened the day at $1.25532 and was steady early, before falling to a mid-session low of $1.24791. It rebounded off those lows and peaked at $1.25638 late in the day. It is trading slightly higher and is currently at $1.25748.

Indices erased the losses suffered in the previous session thanks in part to positive results from coronavirus vaccine research being conducted in the US. The Dow opened at 26,119.08 and was flat for the first half of the day, dipping to a low of 25,990.91 heading into late-session trading. The index rallied off those lows and hit a high of 26,694.60 just before the close. That momentum has continued into Wednesday and is now trading at 26,885.50. The Dax opened at 12,603.92 and hit lows of 12,524.10 mid-session. It came off those lows and climbed to a high of 12,792.67 in the last hour of trade. Like the Dow, the Dax has had a strong start to Wednesday and is currently trading at 12,862.92.

The day ahead sees the release of a swathe of data, with the UK coming into focus. The UK is publishing CPI data later tonight as markets try to look for “green shoots” in re-opening economies. Inflation is tipped to increase by 0.4%, down slightly from the 0.5% recorded at last reading.

Other data published today includes:

UK – Core CPI, PPI Input & Output, RPI, HPI, MPC Member Silvana Tenreyro speaks

Japan – BoJ Policy Rate, Outlook Report, Monetary Policy Statement and Press Conference

Canada – BoC Overnight Rate, Rate Statement, Monetary Policy Report and Press Conference, Manufacturing Sales

US – Industrial Production, Crude Oil Inventories, Empire State Manufacturing Index, Import Prices, Capacity Utilisation Rate, Beige Book, FOMC Member Patrick Harker speaks

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